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Brix Closes Sale of Pelham Bay Multifamily
Brix Real Estate Advisors brokered the $4.7-million sale of a 30-unit multifamily building at 2820 Middletown Rd. in the Pelham Bay section of the Bronx.
The six-story, 25,000 square-foot building consists of 27 residential, two commercial and one antenna unit. The property was purchased by the Cotaj family, who own and operate a portfolio of properties in the Bronx and Westchester County. The sellers, Middletown Partners LLC, purchased the property in 2015 for $3.65 million.
“Today’s impressive sale price is a testament to the strength of this neighborhood in the Bronx,” said Brix managing partner Matthew Barbaccia, who represented Middletown Partners. “Despite the unprecedented economic conditions of the last few years, real estate investors in the Bronx continue to seek opportunities in the rent stabilized building market.”
- ◦Sale/Acquisition

